Assessment 1

Ques 1. Outline how strategic alliances can provide options for marketing opportunities and include two examples of alliances (also known as Cooperative Business models) that can be formed between businesses.

Strategic alliances are the way which can help a company and give different choices for the market opportunities. For achieving the goals of the organization, the company has to collaborate with some other company and new products have to be developed as per the demands of the customer and to enter the market. Both the companies should be working together as partners and sharing resources and developing new products for increasing profit and sales (Arnold, et al., 2018).

Some of the examples of the alliance are which can be formed between businesses are-

Apple pay and master card. As with other companies both compiles alliance with the collaboration. Apple pay collaborates with the 2^nd largest provider of credit cards in world. In the services, credibility is gained by the master card about the merchant & processing arena.

Examples?

Ques 2. Outline how the development of new products or services can provide marketing opportunity options for a business, both in existing and new markets. Relate your answer to relevant diversification strategies from the Ansoff matrix.

If a new product gets developed by the company as per the demands of the company and achieves the goals of the organization as the existing customer can be attracted to the company in purchasing the product. If the company does develop the product as per the demands of customers, then the business can be run for a long run in the market (LeninKumar, 2017).Read the question again

From the Ansoff matrix by using the strategies, for the present product development the business marketing penetration it if the safest option. Great marketing opportunities are provided by the marketing penetration for business. As marketing penetration for the business gives the fact that focus of the business is to increase company sales of an existing product.

Question 3

As per the strategies of the Ansoff matrix, product quality gets improved by the company as per the demand of the customer, it gets easily created a good position in the market.

Read the question again. Relate your answer to relevant diversification strategies from the Ansoff matrix. Answer should not be less than 5-6 sentences,.

The business development of the existing product or services can provide opportunities for marketing as more selling can be done for the existing customers. When the other company is taken over it helps to increase the marketing share of the company which results in creating many opportunitiesfor the marketing. As per the diversification strategy of the Ansoff matrix when the company is taken over by the other company it helps to acquire the new skills, better distribution can be secured and risk can be spread by diversifying.

Question 4

If the company which is reputed does take over the company which does face the loss in the company, then goals of the organization can be achieved by new product development and using the knowledge and resources (McCamley& Gilmore, 2018). Wrong Answer. Read the question again.Answer should not be less than 5-6 sentences.

For the marketing opportunities takeover can create options for the organisation as it boostsStreams of revenue and the market share. The product base is widened due to the takeover and international presence can also be increased.

Question 5

Some of the information which must be considered providing when there is marketing about the franchise opportunity is-

1) Investment level

2) The market

3) Statement related to finance

4) Territory

5) Training and support

6) Restriction

7) Royalties

8) History of the company (Thaichon, et al., 2020).

Satisfactory Answer

Question 6

For setting a new business, market research must be conducted by the entrepreneur. It will help to identify the needs of the market. When opening a new business, the person should consider the market needs and trends.

To know the customer’s needs and expectations research must be conducted by the company.

To identify and analyse the current market trends company must conduct research on product, services and counter marketing strategies to exploit growth opportunities.

To identify the competitor and their marketing strategy there is a need to do research it will help to know the competitor’s product quality, services provided by them, raw material quality (Thabit, &Raewf, 2018).Provide an example

For example- there is a company which products cars can increase their capacity and they can produce more cars. As a result of the new markets, there will be a rise in demand mainly abroad. In some of the cases the organization which produces cars they do not produce tires; from another supplier, the company has to outsource it.

Question 7

Some of the marketing opportunity options are-

Analysis of the other industry- it is the tools that facilitate the understanding of the company of its position relative to the other companies which produce similar services or products.

Analyses of the indirect competition-ithelps to assess the strengths and weaknesses of the competitors in the marketplace and the improve the competitive advantage to implement effective strategies(Garabinovic, &Papic, 2018).

Explain these in 2 sentences each

Question 8

In marketing, the product life cycle plays a vital role as it helps to specify some of the individual stages for the life of the product, and for developing the strategies it helps to provide guidance. These strategies will be helpful to make the best use of the stages and in the marketplace; it helps to promote overall success.

Product life cycle is a forecasting tool. A company can take appropriate steps to prolong the life of an existing product by incorporating changes and features, but they cannot avoid it being obsolete.

Stages of the product life cycle are-

1) Market introduction and development – at this stage the market strategy is developed and through marketing and advertisement within the customer’s, product is made aware. At this stage, sales are slow as the product is not known by more customers.

2) Market growth – in this stage the product is known by most of the customers and it increases the sales. There is growth in product demand.

3) Market maturity- in this stage in the market product is well established and the production cost and there will be a decline in the existing product.

4) Market decline- In this stage companies see fall in sales and changing consumer behavior. The sales and profits fall down sharply, and the promotional expenditure has to be cut down drastically. This is a period for companies to cash on their investments.

Satisfactory Answer

Question 9

A marketing mix helps to understand what the services and products can offer to the customers. About the product offering, it helps in planning. Considering marketing mix helps in planning, developing the product and services and helps in implementing the marketing strategies in order to increase sales and earning higher profits along with providing customer satisfaction and creating a brand value. (Thabit, &Raewf, 2018).

Satisfactory Answer

Question 10

Some of the key factors which must be considered in determining the components of the product in the marketing mix are-

1) Promotion strategy- it is important to know which strategy must be considered for the promotion of the product.

2) Price strategy- to fix the price, competitors’ prices must be considered and then the product price must be fixed.

3) Product strategy- the quality of the product must be considered.

4) Place strategy- it is important to identify where to sell the product, at what place the product will be more successful (Huang, et al., 2019).

Satisfactory Answer

Question 11

For the business, pricing strategy is important because customers quite often choose the product according to the price of the product. When the customers find the optimum price, it helps to increase the sales. With the increase in sales, profits will increase, as it is the key to beating the competition (Valaskova, et al., 2018).

Two types of pricing strategy which can be chosen by the company are-

1) Penetration- it is the marketing strategythat is used by the business to attract new customers for the new product or the services during its initial phase by offering a lower price.

2) Skimming- it is the product pricing strategy. Due to the price skimming, the firm highest initial price is charged by the firm which will be paid by the customers, and then the company will lower its overtime(Lee, et al., 2021).Explain these.

Question 12

Types of promotional strategies are-

Social media promotion- the company can provide Google ads. It will help to attract most of the customers.

Product giveaway and sample- free samples can be provided to the customers. It will attract them and they know the product quality (Kuan, et al., 2020).

Satisfactory Answer

Question 13

Some of the strategies which can be used as a part of the marketing mix are-

1) Selective distribution- this strategy thought supply chain aims to provide the services and products to the customers.

2) Exclusive strategy- in this strategy there is a hold on to the particular distributors, and they are obligated for selling the product exclusively in an exclusive manner in a defined place.

3) Intensive strategy – it involves a lot of brokers. It helps to concentrate on taking possible advantage of every possible place for the sales of goods (Fei, et al., 2020).

Satisfactory Answer

Question 14

The business may choose to market strategy which is indifferent as-

It enables for meeting the various need of the customers.

The different approach helps to meet different audience (Krizanova, et al., 2018).

Satisfactory Answer

Question 15

A concentrated marketing strategy helps to get a strong place in market in a certain market segment. It also serves with nomass distribution, production, & mass advertisement. It focuses on servicing a segment of market rather than the whole market. It is one of the best strategies for a company with limited resources, as it helps the business to create a market position in a specific segment without investing a lot in mass production, distribution, and enormous marketing campaign.(Garabinovic, &Papic, 2018).

Satisfactory Answer

Question 16- Read the question again. Explanation should be in 2-3 paragraphs. Also, example should be provided.

A process which can be used are-

To define the ideal buyer, work together.

Between the 2 teams, a service legal agreement can be developed.

There must be an open collaboration between

The meeting can be conducted with the legal advisor of the organization and all the marketing plans can be explained. For example- legal advice is an advocate, consultant manager.

Question 17

A meeting can be conducted within the organization with the legal stakeholders. Discussing the marketing, strategies, approaches will ensure that all the legal and ethical requirements are met (Fahy, & Jobber, 2019). Example????? Read the question again. Answer is not right. Also, answer should be in a proper paragraph not in 1-2 lines.

The mission must be preparing and the situation can be analyzed. A marketing plan is prepared which also includes the different kinds of strategies to make sure that there will be an increase in brand awareness. For example- SWOT and pestle analysis can be done.

Question 18

A process that can be used by the marketer is-

A marketing plan can be created by the company by analysing the preference of the customers and market trends.

SWOT and PESTLE analysis can be done by the organization. SWOT analyses will help to know the strength, weaknesses, opportunities, and threats for business (Kim, et al., 2021).

Example?Read the question again. Provide an appropriate answer

Planning schedules can be developed. Times can be allocated for completing certain task so that they can be accomplished on time.

Assessment 2

Nature Care Products

Marketing Plan Briefing Report

Introduction

NatureCareProducts Company is situated in Brisbane, Queensland Australia.NatureCare productsmake&retail eco-friendly skincare products of high quality. In 2011 the company was established for catering to the perceived demand for skin-related products which contain eco-friendly & natural ingredients. A marketing plan briefing report is made to provide an overview of the briefing for the marketing plan of a natural care product. In the report, the main focus is on the current trends and development in the industry of cosmetics and its competitors, for the business’s current and new emerging marketing apportionment. In the briefing report, we will also summarise the current target groups, external and internal factors which can affect the plan and company as well.

Market overview

In the cosmetic industry Trends and development

There has been increasing in the demand for natural and eco-friendly skincare products. The market of cosmetics is driven primarily. Consumers are becoming more conclusions about their skin and look. In Australia, there has been an increase in the value worth $ 4.8=98 billion according to the 2015 research. Due to continuous innovation, there has been growth in the industry. In the cosmetic industry, there are some the trends like long-lasting face powder, sun protection cream and there has been a rise in the organic, vegan, and natural beauty products to manage the pollution harmful effect.

Satisfactory Answer

Potential new emerging trends

With the increase in the awareness in customers and their increasing interest for the growing demand, there has been a rise in the cosmetic skincare market. Youngsters are more interested in skin whitening creams and lotions. With the increase in time customers’ lifestyles are also changing, there has been an increase in the interest for beautification so it is also one of the reasons for to increase in skincare products.In the market, there has been a trend for natural products which helps to create more opportunities in the market for natural and active cosmetic products like amino acids and enzymes, and botanical extracts. There has been also an increase in the retail outlets and strengthening the retail network can increase the market of cosmetic skincare.Re write these sentences as these sentences are grammatically wrong.

Competitors

With the increase in the market, competition has also increased. There are many competitors of NatureCare Products.To represent the living standards the brands like Davis Jones, Dior, and Myers have entered the market and they are having a good number of purchasing power. In 2012 in Australia L’Oréal was the leader in the skincare market.

Some of the prominent competitors of the company are-

Botani- for the complete family the company offers award-winning skincare products which are proudly made in Australia. The company products are ethically conscious & clinically verified.

Critique- the company is a cosmetic manufacturer in natural botanical skincare & cosmetics. The company has a wide variety of skincare.In the world, there are 19 centers. They also sell their products online. Check these sentences

Current customer profile

On the female market, the company has its sole focus. As per the company’s current report, the cosmetic customers of the Nature Care products have the following demographic regarding the customers’ profile.

College graduates & youngsters- 39%

Professional men which are of age 20 to 45- 10%

Married women-39%

The people of $ 40,000 & 79,000 income- 32%

Professional women of age group 22 to 55- 70%

Satisfactory Answer

SWOT analysis

Strengths	Weaknesses
Products are of high quality and they are eco-friendly The promotional activities are effective	The company has a limited portfolio of product and marketing as well For the company market share is less???? Less market share of the company
Opportunities	Threats
For the current market development of new products????? In Japan company is seeking to create the market To make the website creative renovate it??????? The website needs to be redesigned to make it more creative. Write proper sentences	Increasing competition Due to fewer products customer loyalty might change Changes in trends and taste of the customers On the specialty store, there has been an increase in the dependencies

PESTLE Analysis

Political factor-as per the government rules and regulations the company must follow and create policy and procedure which helps customers from any kind of fraud.

Economical factor- the company must provide the correct wages to its employees and pay all the taxes. As per the demands and wants of the customer the company needs to innovate and develop the new product.

Social factors- The Company must fulfil its social responsibility. The quality of the product must be very good. Some amount of profit can be donated for charity.

Technical factor-the company must provide physically immersive qualities to its customers. There is a need to make updates in the technology within the organization. It will help to attract customers.

Legal factors : We need to follow the customer law to get the results we want to reach, it is clear that each market and population coming with different targets and different cultures, understand their knowledge and handle the codes of practices will allow increase the market to NatureCare.

Environmental factors like understanding the impact of your product or methods on the environment. Sometimes, it is governed by legal directives, while other times it is directed by ethical and moral implication. No actions or its repercussions should harm environment or should be detriment to the environment.

Satisfactory Answer

Marketing opportunities

Based on the SWOT and PESTLE analysis some of the marketing opportunities for the natural care products are-

Create a social media page and establish SEO- The Company can provide information about their product on the social media page. It will help the company to raise their sales. It will also help to raise the awareness among the target market by 20%. Up to 15%, it can also increase the market share.

Risk– company account may get hacked.

In Japan the company must enter the international market- It will help to expand the market globally. Japan has been chosen to expand the market because it has shown a very good opportunity in the natural ingredients. Nature care can also negotiate with the persons in Japan. It will also help to remove the barriers for limited revenue and it will also help to open doors for customer’s profiles and market.

Risk-political unrest and fluctuations of cost, etc.

For the Nature care products portfolio, new skincare products can be developed- For the development of the product, the company can use the Ansoff matrix. For the creative portfolio of the company, there can be the use of diversification. It will help to increase 15% market share and there will be at least 10% growth and sales.

Risk– sticking to the development plan company may lose the opportunities and for the product development costs can be increased.

Satisfactory Answer

Marketing strategies

According to the organizations marketing objective, 4 p’s of the marketing mix are-

Price-Before setting up the price, the company must identify and evaluate the competitor’s price.The price must not be set as per the product quality and reasonable.Explain in 2-3 sentences

Product-to know demands and needs of the customer the company can do some of the marketing research related to cosmetic products. The skincareproduct must be according to the needs and expectations of the customer.What kinda products

Promotion-to increase awareness of the product new marketing strategies can be developed. advertisement can be given in the newspaper and on social media.

Explain in 2-3 proper sentences

Place- the company must find a suitable place to sell the product. The company can choose shopping malls and departmental stores as there are more visits of customers there.

Marketing tactics

Tactics	Date	Resources\Budget	Roles and responsibilities
For the market, there is a need to develop the market plan and channels for communication	20^th November 2021	Meeting	Operations Manager and CEO
Smart Goals will be set	20^th November 2021	Meeting	Manager
Create social media accounts	23^rd November 2021	Internet	Marketing team
Update the company website	27^th November 2021	Internet	Web developer
To staff provide training	29^th November 2021	HR manager	HR manager

Marketing performance

Against the marketing objective marketing performance can be measured by-

There is a need to conduct monitoring and evaluation continuously and to determine the time frame an action plan will be created and used.

Customer surveys will be conducted. If the issues are identified they will be resolved soon.

Decrease the gap between actual achievement and proposed objectives. It can help improve the marketing performance by increasing competitive intelligence and forecasting competitor’s reaction against our strategy. To assist in gaining a competitive edge, Nature care needs to get some experienced professionals on their team. They could also hire the services of some professional marketing consultants for their feedback or even offer them contract for carrying out their objectives.

Satisfactory Answer

Strategies to increase organizational expertise or resources to address gaps in currently capability and marketing objectives

Training will be provided to the NatureCare products employees.

Regular meetings will be conducted and employees’ feedback will be taken.

Workplace actives will be conducted to boost the employee’s morale.

Rewards and incentives will be provided to the employee’s

The company strategies’ goals will be analysed.

The policies and procedures of the company will be updated from time to time.

Satisfactory Answer

Email to CEO

To- [email protected] Subject-to seek approval This email is sent to inform you that I have prepared the marketing plan briefing report of the NatureCare product. It would be great if you provide our valuable feedback on it. I would also like to seek approval to develop the marketing plan as per the marketing plan briefing report. I am attaching the marketing plan briefing report with this mail. Waiting for your response. With kind regards Ranjeet Lalpur Marketing manager Satisfactory Answer

Assessment 3

Marketing plan

Nature Care Products

Marketing Plan template

Introduction

This marketing plan for the NatureCareproducts have been developed so that objectives of the company can be achieved which are like sales increment, business is to be expanded and products to be promoted.

Background

NatureCare products have started the business in the year 1996 in Melbourne, Queensland Australia, Skincare products get manufactured by the company and have a combination of organic and natural ingredients. The product does get sold by the company by using the online websites and by using of the retailers.

Satisfactory Answer

SWOT and PEST analyses

Strengths	Weaknesses
1. Companies do manufacture a wide variety of skin products for people. 2. Companies do manufacture the products and use the natural ingredients 3) Companies do have the option for communication with the customer and by using the website and marketing team.	1. There is the lacking in the outlets of the retails Retailoutlets are fewer. 2. there is enough competition in the market 3. Company has used the procedures of Outdated productivity
Opportunities	Threats
1. Company has the opportunity for new product development and the particular skin in case of fit skin For the development of the new product, the NatureCare Products has an opportunity. 2) There is the option of using social media for expanding the business. Check the highlighted sentences	1. Product price has decreased because of broad competition in the market. 2. the Same style gets copied by other companies in selling the products

PESTEL analysis

PESTLE Analysis

Political factor-as per the government rules and regulations the company must follow and create policy and procedure which helps customers from any kind of fraud.

Social factors- The Company must fulfil its social responsibility. The quality of the product must be very good. Some amount of profit can be donated for charity.

Satisfactory Answer

Marketing objectives

1) As the objectives of the company there have to be new customers to be attracted

2) Business has to be expanded by having some strategies

3) Sales of the company have to be increased by company.

Marketing Mix Strategies

1) Products: Market research should be done by the company for identifying the requirements of customers which has been associated with the cosmetic products. After having the information, the company should manufacture the products as per the demands of the customer and business sales increment

2) Price: When the new product price gets selected, the company should be identifying the price of the product of the company and the preference of the customer then after that price has to be selected.

3) Place- As the product’s price gets selected; a company can identify the best location for selling the products in a wide range. Nature Care products should be identifying the place in which customers are having more visits which are departmental stores, shopping malls.

4) Promotion- When a place gets identified for products sale, the company should be creating an updated marketing strategy for promoting the products and attracting new customers(McCamley& Gilmore, 2018)

For achieving the company’s objectives 4 p’s has to berun by the company.

Satisfactory Answer

Budget and projected profit and loss

S.no	Description	Cost ()
1)	Marketing of social media	$ 1000
2)	Website updating	$ 1500
3)	Conducting the live consent	$ 1000
4)	Competitor and customer research	$ 2500
5)	Contingency plan	$ 2700

Implementation time frame

1) There should be the use of social media marketing by the company for promoting the products of the company for having the large audience

2) Companies should be conducting the live consent for launching the new products.

Marketing performance

1) Business sales has to be increased

2) Overall business performance

3) Business goodwill

4) Business financial position

5) Satisfaction of the customer.

Satisfactory Answer

PPT

Email

To: [email protected] Subject: regarding the meeting This mail is sent to inform you that I have prepared the marketing plan and its presentation. So, there is a need to conduct the meeting to discuss the marketing plan of the NatureCare products. I have attached the marketing plan and presentation with the mail. Kindly provide me with the date and time of the meeting. Waiting for your response. With regards Ranjeet Lalpur Marketing manager Satisfactory Answer

Meeting

Meeting Date: 20^th November 2021 Time: 2:00 pm Location: meeting room Attendees: CEO, senior management team Agenda: To discuss the marketing plan of NatureCare products Manager: good morning, everyone today we are gathered here to discuss the marketing plan of the nature care products. I have prepared the marketing plan. I hope you have all reviewed it once as you also have its copy. Some of the strategies I have identified which the company can follow. It will help to promote the product and it will also help to attract customers. CEO- okay nice Manager- I want to know your suggestion what more we can do to increase our market share. Senior management team- we can provide some kind of offers on the festive seasons. CEO- we can also start our online service in which customers can order their products online. It will the customers who are located at the far areas. And you must conduct online surveys of the customer’s satisfaction timely. Manager- okay sir. Thank you everyone for your suggestion.

Updated marketing plan

After consultation with the NatureCare products CEO and the senior management team, some of the changes will be done in the marketing plan.

The company will provide 5% off on the festival’s season on orders above $600.
In every 4 months customers satisfaction surveys will be conducted online.
Online orders and delivery will be started.

Satisfactory Answer

Email to CEO

To: CEO@[email protected] Subject: updated marketing plan I am sending this mail to inform you that the changes which were suggested in the meeting have been implemented. I have updated the marketing plan. I am attaching the marketing plan with a plan. Please review it and provide your suggestions so we can proceed further. Waiting for your response. With kind regards Ranjeet Lalpur Marketing manager Satisfactory Answer

Result- Non Competent

BSBMKG609 Develop a Marketing Plan Solution

Assessment 2

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